Turmeric yesterday we have seen that market has moved -1.46% on poor exports and higher output hopes. The latest updates from the Andhra Pradesh agriculture department shows that, the area under turmeric as on 20th October 2010 stands higher at 0.65 lakh hectare against 0.59 lakh hectare same period last year and against the normal area of 0.64 lakh hectare. Turmeric arrivals in the Nizamabad stand at 600 bags and in the Erode mandi stands at 7,000 bags. In Nizamabad, a major spot market in AP, the price ended at 14509.5 rupees gained by 134.9 rupees. Market has opened at 12580 & made a low of 12316 versus the day high of 12670. The total volume for the day was at 3820 lots and the open interest was at 11250.Support for turmeric is at 12242 below that could see a test of 12102. Resistance is now seen at 12596 above that could see a resistance of 12810.

Trading Ideas:

Turmeric trading range is 12102-12810.

Turmeric ended lower on poor exports and higher output hopes

Turmeric is having resistance at 12596 and support at 12242 level.

Turmeric arrivals in the Nizamabad stands at 600 bags and in Erode stands at 7,000 bags

In Nizamabad, a major spot market in AP, the price ended at 14509.5 rupees gained by 134.9 rupees.